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GBP/USD: consolidative phase extends, risk still to the downside

The GBP/USD pair spent the day at the lower end of its latest range amid the absence of fresh UK-related headlines and prevalent dollar's demand. Mixed US data, however, interrupted the greenback's rally despite US Treasury yields extended their advances to fresh multi-year highs. The UK calendar will also remain empty on Thursday, while minor data is scheduled in the US. The pair gained downward potential despite holding above its weekly low of 1.3450, as intraday recoveries stalled short of 1.3600, the previous selling level. In the 4 hours chart, the pair is developing below its 20 SMA that slowly turns south, while the Momentum indicator ... (full story)

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There is no risk to downside as GU has hit bottom and has started its ascent. The only issue is whether it will range up in channel or range laterally....either way dont be surprised if it revist 1.35070 before strong move up towards 1.40 toward and eventual 1.50 target

There is no risk to downside as GU has hit bottom and has started its ascent. The only issue is whether it will range up in channel or range laterally....either way don't be surprised if it revisit 1.35070 before strong move up towards 1.40 toward and eventual 1.50 target

Ignored

It's almost 1% up from yesterday's close and it is consolidating at this moment. I would add that it is oversold right now and the bullish momentum is building up.
The 1.50 target is already priced in by many analyst some of which predicted that it may happen before this year end.